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Sprint Confirms Acquisition Discussions With Softbank

Overland Park, Kan. — Sprint confirmed reports that it is in discussions with Japan’s Softbank “regarding a potential substantial investment by Softbank in Sprint.”

The transaction “could involve a change of control of Sprint,” the company said. Sprint said it would not comment any more on the matter “unless and until an agreement is reached.”

Softbank is Japan’s third largest carrier by subscribers. It would be Softbank’s first acquisition outside its domestic market.

The Wall Street Journal has reported that Softbank is in advanced talks to buy Sprint and that the deal is expected to exceed$12.8 billion.

Analyst Jeff Kagan pointed out that No. 3 carrier Sprint “has struggled for years” but said, “It is not a foregone conclusion that the company will do well” under Softbank.